0001193125-12-179180 Sample Contracts

SHAREHOLDER ADMINISTRATION AGREEMENT (CLASS N AND I)
Shareholder Administration Agreement • April 24th, 2012 • William Blair Funds • Illinois

AGREEMENT made as of this 25th day of April, 2012 by and between WILLIAM BLAIR FUNDS, a Delaware statutory trust (the Trust”), on behalf of the William Blair Commodity Strategy Long/Short Fund (the “Fund”), and WILLIAM BLAIR & COMPANY, L.L.C., an Illinois limited liability company (“William Blair”).

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April 25, 2012
William Blair Funds • April 24th, 2012

Pursuant to Section 2 of the Management Agreement, the William Blair Funds hereby provide notification of a new series of the William Blair Funds to be called “William Blair Commodity Strategy Long/Short Fund” (the “New Portfolio”). Attached hereto are Amended Appendix A and B to the Management Agreement to reflect, among other things, the appropriate management fees and initial term end for the New Portfolio.

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